Fees earned but not yet billed
WebIn addition, the data for year-end adjustments are as follows: a. Fees earned but not yet billed, $13. b. Supplies on hand, $4. c. Insurance premiums expired, $10. d. Depreciation expense, $3. e. Wages accrued but not paid, $1. Enter the adjustment data and place the balances in the Adjusted Trial Balance columns. WebUnearned commission fees at December 31 are $4,000. Commission fees earned but not yet billed at December 31 are $3,500. (Note: Debit Fees Receivable.) Birch Company’s …
Fees earned but not yet billed
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WebJun 17, 2024 · Fees earned $24,000 $ 30,000 Commissions earned 42,500 42,500 Total revenues $66,500 72,500 Expenses ... Hint: Entry for a refers to fees that have been earned but not yet billed. None of the entries involve cash. See answer Advertisement Advertisement andromache andromache Answer and Explanation: Webexample of a defe …. Which of the following adjustment is an example of a deferral? Select one: A. The recording of wages earned by employees but not yet paid B. The recording of periodic depreciation expense on equipment C. The recording of fees earned but not yet baled or received D. The recording of interest income not yet received E None ...
WebThe trial balance for Alert Security Services Co. has been prepared on the following end-of-period spreadsheet for the year ended October 31, 20Y5. In addition, the data for year-end adjustments are as follows: a. Fees earned but not yet billed, $29. b. Supplies on hand, $7. C. Insurance premiums expired, $36. d. Depreciation expense, $14. WebFailure to accrue wages earned but not yet paid to employees. ... A. Failure to accrue revenue earned but not billed. Early in the accounting period, a customer paid $1,500 for services in advance of receiving them; Cash was debited and Unearned service fees was credited for $1,500. ... A. Unearned Service fees DR 1,000 Service fees earned CR ...
WebWhat is the correct debit and credit to record the adjusting entry for $800 of fees earned but not yet billed or paid? Oa. debit Fees Earned and credit Unearned Income for $800 Ob. debit Fees Earned and credit Accounts Receivable for $800 Oc. debit Accounts Receivable and credit Fees Earned for $800 Od. debit Unearned Income and credit Fees Earned … WebFees earned, but not yet billed, $35. b. Supplies on hand, 59 . c. Insurance premiums expired, $44. d. Depreciation expense, $18. e. Wages acerued, but not paid, $18. Enter the adjustment data, and place the …
Webfees earned definition. An income statement account that reports the amount of service revenues earned during the time interval indicated in the heading of the income …
WebIf revenue is earned (to receive LATER) need to ACCRUE it--ACCRUED ASSET like Accounts Receivable. Journal Accrued Expense for Salaries of $1200 and Interest Expense of $100. Salaries Expense Dr. $1,200. Salaries Payable Cr. $1,200. To record accrued salary expense. Interest Expense Dr. $100. Interest Payable Cr. $100. dic andhra pradeshWebThe credit in the entry is fees earned (revenue) because we were told that $2,500 had been earned.When you see earned, you should always think revenue unless the transaction … dic and hemolysisWebExpert Answer. Solution: Journal Entries - Birch Company Date Particulars Debit Credit 31-Dec Maintenance expense Dr ($2,700*4/6) $1,800.00 To Prepaid maint …. Adjusting Entries The following selected accounts appear in the Birch Company's unadjusted trw balance of December the end of the clear all accounts have normal balances to manance ... dic and hit